Accounting Equation with VAT | Explained with Examples

In this basic accounting lesson, we explain what the accounting equation is, why the accounting equation is done, and we go through examples of how the accounting equation is done together with what account is debited and what account is credited when you also have VAT (Value Added Tax). Check it out, we explain the three parts of the accounting equation, namely assets = equity + liabilities, and how VAT affects the accounting equation.

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[motlalepulalefakane]

I like your material. Do you have lessons on VAT exempt suppls and zero-rated supply

[marinaapril]

Im lost...i realy need intensive guidance....wriring exams next mont...did accounring 21 years ago in matric

[joycemudzanani]

This was helpful for me; I did not know anything about accounting, but now at least I can see. thank you so much

[syedali-portfolio]

Hey... theres no link provided for removing the affect of VAT. would appreciate if you could provide the link... TIA.